Last night, the news about the approval of BlackRock's Bitcoin spot ETF was finally confirmed to be false news. It is surprising that a rumor can cause such a big wave, which makes people want to open up the pattern and imagine what kind of short-term explosion and subsequent momentum the market may have when the real news comes out.

To be honest, last night's eye-catching stunt was more like an early exercise in which BlackRock participated personally. In fact, it is only a matter of time before the spot ETF of Bitcoin is approved. Combined with the big cycle law of Bitcoin halving, the overall market is still in the transition stage from the late bear market to the early bull market. The market is likely to return to a period of volatility after this ETF blunder, so it is not advisable to aggressively chase more. However, while short-term emotions are vented, there are indeed signs of warming. Therefore, it is a good choice to buy spot high-quality assets on dips from Q4 2023 to Q1 next year and slowly pull the position to 7 layers or above.